Thermo Fisher price target lowered to $657 from $685 at RBC Capital

RBC Capital lowered the firm’s price target on Thermo Fisher to $657 from $685 but keeps an Outperform rating on the shares as part of a broader research note on Life Science Tools names. The company has already talked down China upside in recent conference calls, but its history of execution is hard to ignore, the analyst tells investors in a research note. RBC adds that Thermo Fisher’s best-in-class management team and 20+ year track record of successful consolidation and share price outperformance are good barometers of its ability to navigate the next leg of growth in the Life Science Tools & Diagnostics.